Bank Giant Wachovia: Another One Bites the Dust!

Gold investors - your day is fast approaching. The collapse of the U.S. Dollar, paper money approaching.

Dear Subscribers,

The $700 billion Wall Street agreed to in principal in Washington D.C. yesterday didn't prevent the collapse of Wachovia this morning as the banking giant shares collapsed more than 85% in pre-market this morning as news of a deal facilitated by the FDIC and with the blessing of the Federal Reserve and the Treasury Dept was consummated with Citibank

"All depositors are fully protected and there is expected to be no cost to the Deposit Insurance Fund," according to the FDIC statement.

In the height of hypocrisy the FDIC also stated in their statement...

"For Wachovia customers, today's action will ensure seamless continuity of service from their bank and full protection for all of their deposits," said FDIC Chairman Sheila Bair.

"There will be no interruption in services and bank customers should expect business as usual." FDIC said bank assistance was required to "avoid serious adverse effects on economic conditions and financial stability."

"On the whole, the commercial banking system in the United States remains well capitalized. This morning's decision was made under extraordinary circumstances with significant consultation among the regulators and Treasury," Bair said.

The banking and economic collapse spreading around the world is not going to be stopped by the $700 billion bailout for one basic reason, it does noting to stop the foreclosure crisis. Banks are not being positioned to negotiate and mediate debt with mortgage owners either in foreclosure or pushed to the point of foreclosure. This means the crisis will continue to spread.

It's my belief that by the time Washington realizes all they've done is kept the doors open of a few dozen SUPER NATIONAL BANKS the economic collapse will be so overwhelming we'll see the world's fiat money system crippled for a generation.

Gold was actually down a few dollars this morning and the TV pundits and commentators are offering that as evidence that the "market" is not seeing the $700 Billion as having a serious inflationary impact. It's a lie. The fact is central banks, governments, hedge funds that are still holding gold are selling they're gold to raise liquidity, this is holding the price of gold down in dollar terms. It won't and can't last much longer, especially as the real estate crisis continues.

Much like Wachovia share holders woke this morning to see their shares trading at $5, then $4, the $1 and less we are going to see gold one morning open up at $1200, $1500 and then $5,000 as we watch the Dow Jones plummet.

The "positive" argument for stocks has been in recent weeks that weaker earnings had already been discounted as the realization and expectation of a mild to moderate recession became impossible to avoid.

When Congress failed to address the core issue of the meltdown, the plummeting real estate market -- they missed this latest chance of limiting this crisis. The end result will be a massive deflationary wave in BOTH commercial and private real estate followed by an monetary inflationary wave that will decimate the US dollar. It may take several weeks, month or perhaps as long as a year but when it comes do will come $5,000 gold and DOW 5,000.

If you have not put gold into your hands yet, I beg that you do. Please call my rare coin and precious metals specialists and roll your IRA, 401K accounts into gold, and buy physical gold to keep close, in your reach. The difference between surviving the next few years and prospering may come down to how much gold, silver and platinum you stash. My precious metals experts are standing by at 1-866-697-GOLD (4653).

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Best Wishes,

James Di Georgia

Editor